Farmers was founded in L.A. and is headquartered 6 miles away from the proposed stadium site in downtown L.A. (plus an auto insurer sponsor like Farmers makes sense in car-clogged L.A.).
"It makes no sense for us to shovel more money into the problem if you have not seen an auto industry that is committed to restructuring -- restructuring that, frankly, should have been done 10 years ago, 20 years ago, 30 years ago, " he told reporters.